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Page Summary
In A Nutshell
Fusion Markets is an Australian forex broker founded in 2010. It is regulated by the Vanuatu Financial Services Commission (VFSC) and the Australian Securities and Investments Commission (ASIC).
Disclaimer: CFDs represent complex instruments and involve a significant risk of losing money because of leverage. 74-89% of retail investor accounts lose funds when trading CFDs with this broker. You should assess how you can cover the high risk of losing money and how CFDs work.
We ranked Fusion Markets as the leading discount forex broker for 2022 based on our assessment of the best forex brokers out of 57.
Fusion Markets Good & Bad
Fusion Markets offers low non-trading and trading fees. The account opening is easy and fast. Also, it provides excellent customer support with quick and knowledgeable answers.
This broker has limited research tools. It doesn’t offer fundamental data, trading ideas, or news. You can only use a demo account as an educational tool. There are no texts or educational videos. The product portfolio has only CFD, forex, and crypto asset classes.
Good:
- Low Non-Trading And Trading Fees
- User-Friendly And Fast Account Opening
- Reliable Customer Support
Bad:
- Standard Research Tools
- Limited Educational Tools
- Limited Product Portfolio
Main Features & Highlights At Fusion Markets
|
Country Of Regulation | Australia |
|---|---|
|
Trading Fees Class | Low |
|
Inactivity Fee | No |
|
Withdrawal Fee | $0 |
|
Minimum Deposit | $0 |
|
Time To Open An Account | 1 Day |
|
Debit/Credit Card Deposits | Available |
|
Electronic Wallet Deposits | Available |
|
Number Of Base Currencies | 6 |
|
Demo Account | Yes |
|
Products Offered | CFD, Crypto, Forex |
1. Fees and Spreads
Fusion Markets offers low forex fees. There is no withdrawal or inactivity fee.
Good:
- Low Forex Fees
- Low Non-Trading Fees
- No Inactivity Fee
- No Withdrawal Fee
Bad:
- None
Fees At Fusion Markets
|
Assets | Fee | Fee Terms |
|---|---|---|
|
USD/EUR | Low | ECN Accounts Have A $2.25 Commission Per Lot Per Trade. There Is Also A Small Spread Cost. |
|
USD/GBP | Low | ECN Accounts Have A: $2.25 Commission Per Lot Per Trade. There Is Also A Small Spread Cost. |
|
S&P 500 CFD | Low | The Average Spread Cost Is 0.41. The Fees Are Built Into Spreads. |
|
Inactivity Fee | Low | No Inactivity Fee |
How We Assessed Fees
We assessed Fusion Market’s fees as low, average, or high, depending on how they compare to those of all forex brokers we reviewed.
To help you get a broader understanding of our process, here is the distinction between trading and non-trading fees.
• Trading fees happen when you trade. These can be conversion, commission, spreads, or financing rates fees.
• Non-trading prices are not linked to trading. These can be inactivity or withdrawal fees.
We shared in this review the most critical fees at Fusion Market for each asset class.
We reviewed Fusion Market’s costs in comparison with those of two competitor brokers, IC Markets and Pepperstone. Our assessment relies on objective factors, like client profile, fee structure, or products available.
Here are our top findings of Fusion Market trading fees.
Trading Fees At Fusion Markets
This broker has low trading fees, and each account has distinct cost structures. For this review, we tested the ECN account, which has a commission and comes with tight spreads.
We understand that comparing trading fees for forex brokers is challenging. So, we aimed to make their fees comparable and clear. We analyze brokers by calculating all the costs of a standard trade for selected products.
We use popular tools in each asset class offered by forex brokers:
- Forex: USD/EUR, USD/GBP, GBP/EUR, CHF/EUR and USD/AUD
- Stock Index CFDs: EUSTX50 and SPX
A standard trade refers to purchasing a leveraged product, holding it for one week, and then selling. We use as volume a $2,000 position for CFD and stock index transactions and a $20,000 position for forex. The leverage used is:
- 30:1 for forex
- 20:1 for stock index CFDs
This catch-all benchmark fee covers commissions, spreads, and financing costs for all brokers.
Here’s our Fusion Markets fees verdict.
Forex Fees
This broker has low forex fees. Fusion Markets has the lowest costs when compared to IC Markets and Pepperstone.
Forex Benchmark Fees For A $20,000 30:1 Long Position Held For One Week At Fusion Markets
|
| Fusion Markets | Pepperstone | IC Markets |
|---|---|---|---|
|
USD/EUR Benchmark Fee | $12.8 | $14.9 | $15.8 |
|
USD/GBP Benchmark Fee | $9.4 | $12.5 | $12.1 |
|
USD/AUD Benchmark Fee | $7.4 | $11.9 | $10.6 |
|
CHF/EUR Benchmark Fee | $2.0 | $3.7 | $4.8 |
|
GBP/EUR Benchmark Fee | $7.0 | $10.6 | $9.9 |
CFD Fees
Fusion Markets offers low CFD trading costs. However, the EUSTX50 fee is higher than the one at IC Markets and Pepperstone.
Fees For A $2,000 CFD Long Position Held For One Week At Fusion Markets
|
| Fusion Markets | Pepperstone | IC Markets |
|---|---|---|---|
|
S&P 500 Index CFD Fee | $1.7 | $2.0 | $2.5 |
|
Europe 50 Index CFD Fee | $2.2 | $1.6 | $1.9 |
Non-trading Fees
Fusion Markets offers low non-trading fees. There are no deposit, account, or inactivity fees.
If you withdraw funds in Australia by bank transfer or debit/credit card, you won’t be charged a fee.
The downside is that international bank transfers come with an AUD 20 withdrawal fee, the same fee charged by competitors.
We used credit card withdrawal, and there was no withdrawal fee.
|
| Fusion Markets | Pepperstone | IC Markets |
|---|---|---|---|
|
Account Fee | No | No | No |
|
Inactivity Fee | No | No | No |
|
Deposit Fee | $0 | $0 | $0 |
|
Withdrawal Fee | $0 | $0 | $0 |
2. Account Opening
Fusion Markets offers a fully digital account opening process. It is user-friendly and fast and takes only one day to get an account approved.
Good:
- Fast
- Fully Digital
- No Minimum Deposit
Bad:
- None
Minimum Deposit
Fusion Markets has a $0 minimum deposit.
Account Types
This broker has two account types with different prices:
- Classic account – it has no commission, but fees are built into spreads
- ECN account – it has a commission and tight spreads
Opening An Account At Fusion Markets
Opening an trading account at Fusion Markets fully digital, and you will spend up to 15 minutes with the online application. Our account was approved in less than 24 hours.
The steps you need to follow to open an account at Fusion Markets are:
- Submit your email address and create your password
- Log in to the client interface and click ‘Profile’
- Add personal data, such as residency and date of birth
- Choose an account type, the level of leverage, and a security question
- Verify your residency and identity via a copy of your ID/passport/driver’s license and a utility bill/bank statement.
3. Withdrawals And Deposits
Fusion Markets has no deposit fees, and most withdrawal options come with no extra costs.
You can use debit/credit cards, bank transfer, and electronic wallets to transfer funds. However, the withdrawal time is slow.
Good:
- Debit/Credit Card Available
- No Withdrawal Fee
- No Deposit Fee
Bad:
- Slow Withdrawal – Over 3 days
Account Base Currencies
Fusion Markets has 6 base currencies: EUR, USD, GBP, AUD, SGD, and JPY. That is less than the base currency selection of the main competitors.
|
| Fusion Markets | Pepperstone | IC Markets |
|---|---|---|---|
|
Number Of Base Currencies | 6 | 10 | 10 |
Account base currencies are essential due to two reasons. If you trade in the same currency as your trading account base currency, or you finance your trading account using the same currency as your bank account, you will have no conversion fee to pay.
If you want to save on currency conversion costs, you can use a multi-currency bank account at a digital bank. Transferwise or Revolut is our top choice, as they offer free or affordable international bank transfers, along with excellent currency exchange rates. Creating an account at a digital bank takes a couple of minutes on your phone.
Options And Deposit Fees
Fusion Markets has no deposit fees. You can use debit/credit cards, bank transfers, and electronic wallets, like Skrill and Neteller.
|
| Fusion Markets | Pepperstone | IC Markets |
|---|---|---|---|
|
Bank Transfer | Yes | Yes | Yes |
|
Debit/Credit Card | Yes | Yes | Yes |
|
Electronic Wallets | Yes | Yes | Yes |
We reviewed it and discovered that a bank transfer takes several business days. Payment with a debit/credit card is instant.
You can only transfer money from accounts in your name.
Options And Withdrawal Fees
Fusion Markets has no withdrawal fee for debit/credit cards and bank transfers to Australian bank accounts. However, the withdrawal fee for international bank transfers is high: AUD 20.
|
| Fusion Markets | Pepperstone | IC Markets |
|---|---|---|---|
|
Bank Transfer | Yes | Yes | Yes |
|
Debit/Credit Card | Yes | Yes | Yes |
|
Electronic Wallets | No | Yes | Yes |
|
Withdrawal Fee | $0 | $0 | $0 |
Keep in mind that for debit/credit cards, the withdrawal amount can’t exceed the deposited amount. So, you can withdraw all profits by bank transfer.
For this review, we used the credit card withdrawal, which took more than 3 business days.
You can withdraw funds from this broker with the following steps:
- Log in to the client portal
- Click on ‘Payments’
- Select ‘Withdrawal’
- Select the amount and withdrawal method
- Start the withdrawal
4. Trading Platform
MetaTrader is the web trading platform at Fusion Markets. It comes with impressive customizability and a transparent fee report. The downside is that it doesn’t have price alerts or two-step authentication, while the design is outdated.
Good:
- Transparent Fee Report
- Good Customizability For Workspace And Charts
- Order Confirmation
Bad:
- No Two-Step Authentication
- No Price Alerts
- Average Design
Available Platforms At Fusion Markets
|
Trading Platform | Score | Available |
|---|---|---|
|
Web | 3 | Yes |
|
Mobile | 4 | Yes |
|
Desktop | 3.5 | Yes |
Fusion Markets doesn’t have a proprietary platform, and it uses MetaTrader 4. This third-party platform is available in numerous languages.
Fusion Markets Web Trading Platform Languages
| Arabic | Bulgarian | Chinese | Croatian | Czech | Danish |
|---|---|---|---|---|---|
| Dutch | English | Estonian | Finnish | French | German |
| Greek | Hebrew | Hindi | Hungarian | Indonesian | Italian |
| Japanese | Korean | Latvian | Lithiuanian | Malay | Mongolian |
| Persian | Polish | Portuguese | Romanian | Russian | Serbian |
| Slovak | Slovenian | Spanish | Swedish | Tajlk | Thai |
| Traditional Chinese | Turkish | Ukrainian | Uzbek | Vietnamese | Cell |
Look And Feel
This web trading platform is easy to customize. You can modify the position and size of the tabs with ease.
However, the platform feels outdated. Some features are hard to discover. For example, for our review, it was challenging to add an asset to the watchlist.
Security And Login
Fusion Markets only has one-step authentication. A two-step login would be more secure.
Search Features
The search features are useful. Assets are available in categories. However, you can’t type the name of an asset and use the standard search function.
Placing Orders
All standard order types are available, but complex order types like ‘one cancels the other’ are not. The order types you can use are:
- Market
- Limit
- Stop
You can use order time limits, too:
- Good ’til canceled (GTC)
- Good ’til time (GTT)
Notifications And Alerts
Notifications and Alerts are not available on the web trading platform. You can set alerts on the desktop trading platform.
Fee Reports And Portfolio
Fee reports and portfolios are transparent. You can check your paid commissions or profit-balance under the ‘History’ tab. However, we couldn’t download this data.
5. Mobile Trading Platform
The mobile trading platform at Fusion Markets comes from MetaTrader 4. It has an excellent design with reliable search functions. But even though it is a user-friendly platform, it lacks secure authentication.
Good:
- User-Friendly
- Reliable Search Function
- Price Alerts
Bad:
- No Two-Step Authentication
- No Biometric Authentication
- No Order Confirmation
Like with the web trading platform, this broker has MetaTrader 4 as its mobile trading platform. The MetaTrader 4 app is for both Android and iOS. We used the Android platform.
After downloading the MT4 mobile platform, you need to access the FusionMarkets-Live server.
There are several languages on the mobile trading platform, too. The downside is that switching languages on Android devices is difficult. You can do this by changing the default language of your device.
Fusion markets Mobile Trading Platform Languages
| Arabic | Chinese (Simplified) | Chinese (Traditional) | Czech | English |
|---|---|---|---|---|
| French | German | Green | Hindi | Indonesian |
| Italian | Japanese | Korean | Polish | Portuguese |
| Portuguese (Brazil) | Russian | Spanish | Thai | Turkish |
| Ukrainian | Vietnamese | Cell | Cell | Cell |
Look And Feel
Fusion Markets comes with a reliable mobile trading platform. We liked its user-friendly design. You can find settings with ease.
Security And Login
You can only use one-step authentication. A two-step authentication process would be safer.
Biometric authentication, like Face ID or fingerprint, is not available. These features would be more convenient.
Search Features
Search features are useful. You can look up data by entering the name or category of the product.
Placing Orders
This mobile platform has the same order time limits and order types as on the web trading platform.
Notifications And Alerts
You can create notifications and alerts. However, you can do this only on the desktop trading platform. It would be more convenient to set alerts on the mobile app.
6. Desktop Trading Platform
The MetaTrader 4 desktop platform at Fusion Markets has excellent functionality but an outdated design. It is similar to the web trading platform. There is one difference: you can create price alerts on the desktop platform.
Good:
- Transparent Fee Report
- Good Customizability For Workspace And Charts
- Price Alerts
Bad:
- No Two-Step Authentication
- Outdated Design
Fusion Markets has MetaTrader 4 as its desktop trading platform.
It offers a similar design, language options, search features, order types, product portfolio, and fee reports as the web trading platform.
The advantage is that you can create notifications and alerts on the desktop platform: email notifications and mobile push alerts. For this purpose, you will have to add your mobile MetaQuotes ID (it is available in the MT4 app settings) or email address. Access the ‘Tools’ menu and click on the ‘Options.’
7. Markets And Products
Fusion Markets offers some CFDs and several currency pairs. However, you can’t trade popular asset classes, like funds, ETFs, or real stocks.
You can check our CFD trading insights for additional information on the topic.
Disclaimer: CFDs represent complex instruments and involve a significant risk of losing money because of leverage. 74-89% of retail investor accounts lose funds when trading CFDs with this broker. You should assess how well you can cover the high risk of losing money and how well you understand how CFDs work.
This broker has one of the most extensive currency pair selections, allowing you to trade with stock index CFDs, commodity CFDs, and cryptocurrency. The downside is that bond CFDs and stocks are not available.
|
| Fusion Markets | Pepperstone | IC Markets |
|---|---|---|---|
|
Currency Pairs | 90 | 100 | 75 |
|
Stock Index CFDs | 15 | 23 | 25 |
|
Commodity CFDs | 25 | 32 | 28 |
| Stock CFDs | 110 | 1400 | 2100 |
Crypto CFDs | 14 | 21 | 13 |
You can choose the maximum level of leverage, from 100:1 to 500:1. These maximum levels are significantly higher than in the EU because Fusion Markets has Australian regulations.
8. Research
Fusion Markets has average research tools. You can use the tools from MetaTrader 4.
However, news, fundamental data, and trading ideas are not available. The upside is that you can add research tools, but these are not free.
Good:
- User-Friendly
- Research Tools Can Be Added
Bad:
- No Trading Ideas
- No Fundamental Data
- Average News Flow
This broker doesn’t have a research team. So, you can only use the research tools available with MetaTrader 4. These are available in several languages. For our review, we tested the free research tools, like the charting tools.
Trading Ideas
This broker doesn’t offer trading ideas.
Fundamental Data
This broker doesn’t offer fundamental data.
Charting
Fusion Markets has acceptable charting tools.
It offers 31 technical indicators and other technical tools, like Fibonacci retracement and trendlines.
However, the design is outdated, and some features are not user-friendly. For example, it was challenging to discover how to remove an indicator from the chart.
News Feed
This broker doesn’t offer news.
9. Customer Support
Customer support at Fusion Market is excellent. You can reach them via several channels and receive answers quickly. The downside is that 24/7 availability is missing.
Good:
- Phone Support
- Live Chat
- Fast Response Time
Bad:
- No 24/7 Availability
You can contact Fusion Markets via:
- Live chat
- Telephone
We liked the live chat due to the quick response. We received relevant answers, too. However, we had to wait a day to receive an email about additional information about corporate accounts. The customer support representative wasn’t able to answer instantly on the topic.
Fusion Markets comes with excellent phone support. The representative was connected in a minute, and we received useful answers.
The representative was friendly. However, we found it annoying that on live chat and the phone, they steadily urged us to try the demo account.
We sent Fusion Markets four emails and received answers to all within a couple of hours. The information was relevant.
The downside is that there is no 24/7 availability, and you can reach customer support only five days per week.
10. Education
Fusion Markets has a demo account as an educational tool. The downside is that it lacks educational texts, instructional videos, and platform tutorial videos.
Good:
- Demo Account
Bad:
- No Educational Videos
- No Trading Platform Tutorial Videos
To use the demo account, you have to submit your email address and set up a password to log in. In the client portal, select the demo account on the ‘Accounts’ menu.
11. Safety
Fusion Markets has top-tier regulation from ASIC. Since May 2020, customers can also choose Vanuatu’s VFSC. However, these regulators don’t offer negative balance protection or investor protection.
Good:
- Top-Tier Licenses
Bad:
- No Negative Balance Protection
- No Investor Protection
- No Banking License
Fusion Markets Regulations
Fusion Markets was founded in 2010 in Australia. It has licenses from the Vanuatu Financial Services Commission (VFSC) and the Australian Securities and Investments Commission (ASIC).
Fusion Markets Safety
When it comes to Fusion Markets safety concerns, it is best to check the following:
• Protection if something goes wrong
• Background of the broker
Account Protection At Fusion Markets
Fusion Markets offers its services through Gleneagle Asset Management Pty Limited, an Australian legal entity. It is regulated by both the Vanuatu Financial Services Commissions (VFSC) and the Australian Securities and Investments Commission (ASIC). This information is vital because it means there is no investor protection offered. Also, Fusion Markets doesn’t have negative balance protection.
The regulator depends on your country of residence and the brand you choose.
Regulators At Fusion Markets
| Brand | Regulator | Availability |
|---|---|---|
|
Fusion Markets | Australian Securities And Investments Commission (ASIC_ | Available In Almost All Countries* |
|
Fusion MarketsX | Vanuatu Financial Services Commission (VFSC) | Available in almost all countries, except United states States, New Zealand and Vanuatu |
*Except Burma, Côte d’Ivoire, Democratic People’s Republic of North Korea, Democratic Republic of the Congo, Eritrea, Former Federal Republic of Yugoslavia, Ghana, Iran, Iraq, Lebanon, Liberia, Libya, Japan, New Zealand, United States of America, Somalia, Sudan, Syria, and Zimbabwe.
Background
Gleneagle Asset Management Pty Limited was founded in 2010 with the brand name ‘Fusion Markets.’ The length of a broker’s track record is strong evidence for its success in surviving previous financial crises.
Bottom Line
Compared to the best online brokers, Fusion Markets is a safe and reliable option.
It has low non-trading and trading fees. Also, the account opening is user-friendly, while customer support offers knowledgeable answers.
However, this broker has limited educational and research tools. The products offered to cover only some CFDs and forex.
You can test the demo account to decide if it is a good fit for you. You will receive access to your account in 24 hours, and you will benefit from low fees.
Fusion Markets Alternatives:
Finq.com – a popular CFD and Forex broker for traders of all levels offering an advanced trading platform and mobile app. Finq.com has a demo account and several other account tiers with fixed spreads.
Robinhood – is the leading U.S. broker for beginner traders with commission-free stock trading. It offers a Cash Management service, excellent for earning interest on uninvested funds.
E-Trade – is the leading user-friendly broker with reliable learning resources. It offers competitive fees, a free demo account, and an intuitive platform interface.
Disclaimer
Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.